Delhi police arrests man for cheating investors
Nov 19, 2021
New Delhi [India], November 19 : Delhi Police Economic Offences Wing has arrested one for allegedly cheating innocent investors of their money after inducing them to invest in his company and promising assured returns.
As per information shared by the police, the accused has been identified as Dhirender Gaba. He is a resident of Gurugram, Haryana.
Dhirender with the other accused used to induce their victims to invest money into their companies claiming that their company has a Non-Banking Financial Company (NBFC) registration with the Reserve Bank of India.
"The present complaint was registered on the joint complaint filed by 11 people against the company named Fairwealth Financial Services Ltd and its directors namely Dhirender, Naveen, Nipun, Ankur and others, wherein they alleged that the alleged persons with various misrepresentations allured them to invest the amount in their alleged company on the pretext of assured returns of 12 per cent per annum - 16.5 per cent per annum interest," the police said.
The complainants alleged that the accused through common acquaintances approached them and said that the investment will be taken from them in the form of deposit through one of their Non-Banking Finance Corporation i.e. the alleged Company M/s Fairwealth Financial Services Ltd. An assured return of interest on quarterly basis was assured by the accused.
Believing them to be true, complainants invested Rs. 3.72 crores with the company. The alleged Company also issued PDCs to secure the investment on the respective day of investment. The PDCs given to the complainants against their investment were dishonoured on presentation. The complainants were cheated to the tune of Rs. 3.72 Crore, the police said.
During the course of the investigation, statements of victims and the accused were obtained. It was revealed that the money received from the investors went into the account of the accused company.
The Reserve Bank of India in their reply denied that the company was registered as an NBFC with them and said that it was not eligible to accept public deposits. The Registrar of Companies records also revealed that the accused is Director/ Managing Director. In this way, the complainants were cheated to the tune of Rs 3.72 Crore.
Keeping in mind the severity of the case, a team was formed to crack the case and surveillance was mounted. With the help of alert surveillance and local on-ground enquiry, the accused was arrested.
Further investigation is in progress, the police said.
